Even the US with 25% of China's population has close to 1 billion barrel capacity. Based on current US consumption that is only slighly over a month of reserves.  China's reserves will last about the same amount of time.  

India on the other hand will last only a week.

The China produce only 25% of the US oil production at 4 million barrel per day.  It should at least increase its storage capacity to 4 billion barrels.

Electricity 

China 4,715 TWh 79% Coal 1.8% LNG 0.2% Oil 15% Hydro Solar/Wind/Other 2% Nuclear 2%

US 4,326TWh 43% Coal 24% LNG 1% Oil 7% Hydro Solar/Wind/Other 5% Nuclear 19%

Nuclear and Alternative energy producing resources should increase too.